Ask The Experts: Money Matters

By Mike Miles

Drawing from Social Security and TSP

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Q. I am 65 years old and will collect my first Social Security retirement check this month. I have been employed by the federal government for the past nine years; therefore, I have been enrolled in the Thrift Savings Program. If I retired today, my TSP benefit would be approximately $400 a month. Will my Social Security or TSP benefit be penalized because I am drawing benefits from both accounts?

A. It is possible that the taxes you owe on your SS benefits could affected by your annual income, including TSP distributions. See for more info.

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